The crisis has been caused by rampant hyperinflation under socialist President Nicolas Maduro, with the IMF predicting consumer prices to rise by 2,200% this year.

Socialist policies such as price controls, factory nationalizations and government distribution of food have exacerbated the situation, while violence has reached unprecedented levels.

Venezuela’s highest denomination 100 bolívar banknote is now worth just 3 US cents on the black market.

Venezuelans are fleeing to Colombia, where a queue of migrants 8 miles long can be seen at the border crossing at Paraguachon.

Despite this and thanks to college campus indoctrination, many millennials in America are still blissfully ignorant to the dangers of socialism and Communism.

A poll conducted last year found that half of millennials would rather live under a socialist or Communist system than under a capitalist system.

President Trump commented on the situation in Venezuela during his UN speech last September, remarking, “Wherever true socialism or communism has been adopted it has delivered anguish and devastation and failure.”

Trump on Venezuela: "Wherever true socialism or communism has been adopted it has delivered anguish and devastation and failure." pic.twitter.com/Mdq1YqgRAj